Can Foreign Buyers Still Purchase Property in BC
Marci Dean • June 2, 2025
If you’re new to Canada, on a work permit, or simply curious about buying a home in British Columbia as a non-resident, you may have heard some conflicting info. Between federal bans and provincial taxes, it can feel like a maze.
ο»ΏLet’s break it down – simply and clearly – so you know what’s actually possible.
π« The Federal Ban on Foreign Buyers (Until 2027)
In early 2023, the Canadian government introduced a two-year ban on foreign nationals purchasing residential real estate. In 2024, that ban was extended until January 1, 2027.
β Who’s affected:
- Foreign nationals who are not Canadian citizens or permanent residents
- Corporations and entities based outside of Canada
β Who’s exempt and can still buy:
- People on valid work permits (183+ days remaining at time of purchase)
- Certain international students (who’ve filed 5+ years of Canadian tax returns and are buying under $500K)
- Refugees or protected persons
- Those buying jointly with a Canadian spouse or partner
π Important: Even if you’re allowed to buy under federal rules, there are still provincial taxes to consider.
The B.C. Foreign Buyer Tax (a.k.a. the Additional Property Transfer Tax)
If you’re a foreign buyer and you’re purchasing property in designated parts of B.C. (including Metro Vancouver, Victoria, Fraser Valley, Kelowna, and Nanaimo), you’ll pay an extra 20% on top of the home’s price.
Example:
Buying a $1.2 million home as a non-exempt foreign buyer?
- Standard B.C. Property Transfer Tax: $22,000
- Additional 20% Tax: $240,000
- Total in taxes: $262,000
π¬ Yep – that adds up fast.
How to avoid the 20%:
You may be exempt if:
- You’re a B.C. Provincial Nominee Program (PNP) participant buying your primary residence
- You’re a Canadian citizen or permanent resident
- You qualify for certain refunds after becoming a permanent resident within a year
What Should You Do?
If you’re on a work permit or navigating immigration pathways – you may still be able to buy, but it’s critical to understand the rules and the costs.
As a mortgage broker, I’ve helped many newcomers figure out:
- If they’re eligible to buy
- What taxes apply (and how to reduce them!)
- What mortgage options are available
Want the Full Breakdown?
I’ve created a free, downloadable one-page
Foreign Buyer Reference Guide with a full tax breakdown and clear examples.
π
[Click here to download it now]
Have questions about whether you can buy property in B.C.? Let’s chat.
Ask Marci About Mortgages.
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